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Biotech Business

Financing, partnerships, and operating models in biotech.

Biotech Business·Jun 22, 2026·6 min read

In-Licensing Economics in a Higher-Cost-of-Capital Cycle

Rising cost of capital is compressing in-licensing valuations and shifting deal structures toward milestones, royalties, and staged proof points.

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Curated analysis on pharma strategy, development, and competitive dynamics. No noise — just the signals that matter.

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